L3Harris Technologies Inc (NYSE:LHX) Short Interest Update

L3Harris Technologies Inc (NYSE:LHX) saw a large drop in short interest in January. As of January 30th, there was short interest totaling 2,663,413 shares, a drop of 23.8% from the January 15th total of 3,494,763 shares. Currently, 1.4% of the shares of the company are sold short. Based on an average daily volume of 1,683,169 shares, the short-interest ratio is currently 1.6 days. Based on an average daily volume of 1,683,169 shares, the short-interest ratio is currently 1.6 days. Currently, 1.4% of the shares of the company are sold short.

L3Harris Technologies Trading Up 1.5%

Shares of LHX stock traded up $5.17 on Monday, hitting $345.07. The stock had a trading volume of 1,029,443 shares, compared to its average volume of 1,388,272. The company’s 50 day moving average price is $322.96 and its 200-day moving average price is $297.60. L3Harris Technologies has a 1 year low of $193.09 and a 1 year high of $369.59. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.19 and a quick ratio of 1.02. The firm has a market capitalization of $64.45 billion, a P/E ratio of 40.45, a P/E/G ratio of 2.49 and a beta of 0.64.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.10. The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.76 billion. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.47 earnings per share. Analysts anticipate that L3Harris Technologies will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be given a dividend of $1.25 per share. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, March 6th. L3Harris Technologies’s dividend payout ratio is currently 56.27%.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Samir Mehta sold 4,840 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $338.85, for a total transaction of $1,640,034.00. Following the completion of the transaction, the insider directly owned 5,916 shares of the company’s stock, valued at approximately $2,004,636.60. This trade represents a 45.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. TritonPoint Partners LLC purchased a new stake in shares of L3Harris Technologies during the fourth quarter worth approximately $808,000. Vanguard Personalized Indexing Management LLC grew its holdings in L3Harris Technologies by 3.7% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 30,748 shares of the company’s stock worth $9,027,000 after acquiring an additional 1,106 shares in the last quarter. Verition Fund Management LLC increased its position in shares of L3Harris Technologies by 52.2% in the 4th quarter. Verition Fund Management LLC now owns 28,399 shares of the company’s stock valued at $8,337,000 after purchasing an additional 9,746 shares during the last quarter. South Plains Financial Inc. acquired a new stake in shares of L3Harris Technologies in the 4th quarter valued at $65,000. Finally, MML Investors Services LLC lifted its position in shares of L3Harris Technologies by 8.8% during the 4th quarter. MML Investors Services LLC now owns 52,293 shares of the company’s stock worth $15,352,000 after purchasing an additional 4,219 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on LHX shares. Truist Financial set a $364.00 price objective on L3Harris Technologies in a research note on Wednesday, January 14th. Morgan Stanley lifted their target price on shares of L3Harris Technologies from $367.00 to $390.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Citigroup increased their price target on shares of L3Harris Technologies from $389.00 to $418.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Sanford C. Bernstein restated an “outperform” rating on shares of L3Harris Technologies in a report on Friday, February 6th. Finally, Royal Bank Of Canada upped their price objective on L3Harris Technologies from $360.00 to $365.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. Fifteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $328.57.

About L3Harris Technologies

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.